Like the term "dingleberry" which denotes a piece of shit or toilet paper that sticks to your ass hair. A "Blingleberry" is a piece of shit that is always hanging around (or on your ass), but has a great facade. Lots of labels, tech gadgets, great friends (bling) and not much else.

That blingleberry has on $600.00 jeans but stuck me with the check for dinner because he's "broke".